The motivation to underinvest is present. As are the presumed penalties for those who do not. (Morningstar's HaywoodKelly , senior vice president of equity and credit research, puts the matter directly: "Managers who want to avoid short

recommendations for picks in the category to a four-member committee that consists of director of securities analysis HaywoodKelly , director of fund research Russ Kinnel, associate director of fund analysis Christine Benz, and myself. We vet